[bsrsharma]

A Cul-de-Sac of Lost Dreams, and New Ones

MORENO VALLEY, Calif. — The rose bushes are back in bloom on Beth Court, but the lawns on the block remain parched and browning, reminders of the absent families who once tended to them.

On a recent evening, a new homeowner lugged two large shopping bags from Home Depot across his front yard, where his young daughter danced a mad jig in her pajamas. Across the street, another group of newcomers — an extended family that had cobbled together enough cash for a down payment — began the long slog of cleaning out the garage.

[bsrsharma]

‘Cash is king’ in market for foreclosed homes

As an aspiring first-time home buyer, Jay Nielsen hoped to find a cheap, bank-held foreclosure in Vallejo that he could finance with a Federal Housing Administration mortgage. What he didn’t expect was having to compete with buyers willing to pay in all cash.

“Since January, I’ve put in 10 bids (on foreclosed homes); some were up to $80,000 over asking price and were still turned down,” said Nielsen, 41, a medical assistant. Each time, the banks selected offers from investors with all-cash offers – even when those offers were lower than his, Nielsen said.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/23/MNTO197NHM.DTL

[bsrsharma]

‘Cash is king’ in market for foreclosed homes

As an aspiring first-time home buyer, Jay Nielsen hoped to find a cheap, bank-held foreclosure in Vallejo that he could finance with a Federal Housing Administration mortgage. What he didn’t expect was having to compete with buyers willing to pay in all cash.

“Since January, I’ve put in 10 bids (on foreclosed homes); some were up to $80,000 over asking price and were still turned down,” said Nielsen, 41, a medical assistant. Each time, the banks selected offers from investors with all-cash offers – even when those offers were lower than his, Nielsen said.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/23/MNTO197NHM.DTL

[bsrsharma]

‘Cash is king’ in market for foreclosed homes

As an aspiring first-time home buyer, Jay Nielsen hoped to find a cheap, bank-held foreclosure in Vallejo that he could finance with a Federal Housing Administration mortgage. What he didn’t expect was having to compete with buyers willing to pay in all cash.

“Since January, I’ve put in 10 bids (on foreclosed homes); some were up to $80,000 over asking price and were still turned down,” said Nielsen, 41, a medical assistant. Each time, the banks selected offers from investors with all-cash offers – even when those offers were lower than his, Nielsen said.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/23/MNTO197NHM.DTL

[bsrsharma]

‘Cash is king’ in market for foreclosed homes

As an aspiring first-time home buyer, Jay Nielsen hoped to find a cheap, bank-held foreclosure in Vallejo that he could finance with a Federal Housing Administration mortgage. What he didn’t expect was having to compete with buyers willing to pay in all cash.

“Since January, I’ve put in 10 bids (on foreclosed homes); some were up to $80,000 over asking price and were still turned down,” said Nielsen, 41, a medical assistant. Each time, the banks selected offers from investors with all-cash offers – even when those offers were lower than his, Nielsen said.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/23/MNTO197NHM.DTL

[bsrsharma]

‘Cash is king’ in market for foreclosed homes

As an aspiring first-time home buyer, Jay Nielsen hoped to find a cheap, bank-held foreclosure in Vallejo that he could finance with a Federal Housing Administration mortgage. What he didn’t expect was having to compete with buyers willing to pay in all cash.

“Since January, I’ve put in 10 bids (on foreclosed homes); some were up to $80,000 over asking price and were still turned down,” said Nielsen, 41, a medical assistant. Each time, the banks selected offers from investors with all-cash offers – even when those offers were lower than his, Nielsen said.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/23/MNTO197NHM.DTL

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

listing agents had motivations

Are you implying that your offer was higher but was not accepted in favor of a lower offer? If so, you may have grounds to complain to the seller that he may have been defrauded. I thought only cash buyers get deep discounts; that the sellers agents can be corrupt for financed sales too is an eye opener.

[bsrsharma]

listing agents had motivations

Are you implying that your offer was higher but was not accepted in favor of a lower offer? If so, you may have grounds to complain to the seller that he may have been defrauded. I thought only cash buyers get deep discounts; that the sellers agents can be corrupt for financed sales too is an eye opener.

[bsrsharma]

listing agents had motivations

Are you implying that your offer was higher but was not accepted in favor of a lower offer? If so, you may have grounds to complain to the seller that he may have been defrauded. I thought only cash buyers get deep discounts; that the sellers agents can be corrupt for financed sales too is an eye opener.

[bsrsharma]

listing agents had motivations

Are you implying that your offer was higher but was not accepted in favor of a lower offer? If so, you may have grounds to complain to the seller that he may have been defrauded. I thought only cash buyers get deep discounts; that the sellers agents can be corrupt for financed sales too is an eye opener.

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